If the declaration provides that a condominium is subject to any
development rights reserved by the declarant, the public offering statement
shall disclose, in addition to the information required by G.S. 47C-4-103:

(1) The maximum number of units, and the maximum number of units
per acre, that may be created;

(2) How many or what percentage of the units which may be
created will be restricted exclusively to residential use, or a statement that
no representations are made regarding use restrictions;

(3) If any of the units that may be built within real estate
subject to development rights are not to be restricted exclusively to
residential use, a statement, with respect to each portion of that real estate,
of the maximum percentage of the real estate areas and the maximum percentage
of the floor areas of all units that may be created therein that are not
restricted exclusively to residential use;

(4) A brief narrative description of any development rights and
of any conditions relating to or limitations upon the exercise of development
rights;

(5) The maximum extent to which each unit's allocated interests
may be changed by the exercise of any development right;

(6) The extent to which any buildings or other improvements that
may be erected pursuant to any development right in any part of the condominium
will be compatible with existing buildings and improvements in the condominium
in terms of architectural style, quality of construction, and size, or a
statement that no assurances are made in those regards;

(7) General descriptions of all other improvements that may be
made and limited common elements that may be created within any part of the
condominium pursuant to any development right, or a statement that no
assurances are made in that regard;

(8) Any limitations as to the locations of any building or
other improvement that may be made within any part of the condominium pursuant
to any development right, or a statement that no assurances are made in that
regard;

(9) A statement that any limited common elements created
pursuant to any development right will be of the same general types and sizes
as the limited common elements within other parts of the condominium, or a
statement of the types and sizes planned, or a statement that no assurances are
made in that regard;

(10) A statement that the proportion of limited common elements to
units created pursuant to any development right will be approximately equal to
the proportion existing within other parts of the condominium, or a statement
of any other assurances in that regard, or a statement that no assurances are
made in that regard;

(11) A statement that all restrictions in the declaration
affecting use, occupancy, and alienation of units will apply to any units
created pursuant to any development right, or a statement of any
differentiations that may be made as to those units, or a statement that no
assurances are made in that regard; and

(12) A statement of the extent to which any assurances made
pursuant to this section apply or do not apply in the event that any
development right is not exercised by the declarant. (1985 (Reg. Sess., 1986), c. 877, s. 1.)